Tariffs, High Interest Rates Hit Dealmakers
While bankers were buzzing Wednesday about the possibility of the largest oil deal in a generation, the year so far has been relatively ho-hum for mergers.
In fact, global dealmaking in the first half of the year fell to a two-decade low as tariffs and high interest rates helped stall a rebound in M&A activity.
The worldwide tally of mergers, acquisitions, divestitures, financings and joint ventures so far in 2025 was down 16% year-over-year at 16,663, its lowest level since 2005, according to financial data company Mergermarket. Read more:
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